Market In Bullish Mode, Go Long At Every Dip In The Market

Last Trading Session: Indian Stock Market opened negative for the day. EquityPandit predicted last week that traders can go long in the market if Nifty manages to close above 11810 and 30861 for BankNifty. Indian Stock Market moved sharply positive and managed to close above these levels. Market moved sharply positive in last trading session. Traders, who followed EquityPandit advice to go long above 30861 for BankNifty might have earned whopping profits for the day. Finally, market managed to close gap positive for the day.

Today: Indian Stock Market would open positive. Technically, Indian Stock Market is in positive zone. Market would be considered bullish until it holds above 11674 for Nifty and 30566 for BankNifty. Traders should go long at every dip in the market. BankNifty has seen a breakout from Triangle Chart Pattern and Nifty has seen a breakout from Double Bottom Pattern. Overall, market is bullish as of now and every dip would be an opportunity to go long in the market until Nifty holds above 11674 levels.

Nifty:

BankNifty:

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FIIs were net buyers of Rs.106.26 crores whereas DIIs were net sellers of Rs.51.47 crores in cash market for last trading session. Nifty would see strong support at 11748-11700-11655-11614 whereas strong resistance would be seen 11883-11960-12041-12083 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Stocks In F&O Ban Period: ADANIPOWER and IDBI.

NSE Nifty: (11848) The support for the Nifty is 11748-11700-11655-11614 and the resistance to the up move is at 11883-11960-12041-12083 levels.

NSE BankNifty: (31162) The support for BankNifty is at 31067-30984-30920-30865-30815 and the resistance to the up move is at 31270-31340-31405-31455 levels.

BSE Sensex: (39592) The support for the Sensex is at 39465-39375-39240-39110 and the resistance to the up move is at 39645-39707-39815-39880 levels.

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